Gold prices in Egypt recorded a drop of 21 pounds in the last 48 hours, after the drop in the price of a gram of 21 carat gold, which is the best-selling one in Egypt, from 851 pounds to 830 pounds per gram, due to the drop in global gold prices to 1901 dollars, a decrease of more than 3%.
Gold prices fell today, Tuesday, with a value of 3 pounds, to record a gram of 21 carat gold, which is the best-selling in Egypt, 830 pounds per gram, after the fall of gold on Monday morning 6 pounds, then 12 pounds in evening transactions, so that the total drop in the price of gold yesterday in Egypt reached 18 pounds per gram, and gold fell today 3 pounds, bringing the total drop in the gold price since yesterday to 21 pounds per gram.
Profit-taking among investors in the gold market caused prices to fall dramatically worldwide, causing an ounce of gold to lose about $ 40 in two days, which is reflected in prices in Egypt.
Gold is considered a safe haven, meaning that the demand for it is made in the event of global instability, because gold is a limited material in the world, and with the increase in human numbers, the demand for it increases and thus its prices continue to rise, and it is possible to split gold when selling it, such as selling 100 grams or more or less.
Gold can be subjected to decline and rise in the stock market, and thus you may win or lose from it, but if you have the experience to learn to buy gold when it falls by following up on experts and economic news, as well as knowing when to sell when there are signs of a decline, for example in these days Corona fears are considered An opportunity to buy gold as investors flee towards it.
Gold is the best and safest way to save, at least if not for investment and profit, and although many people do not have the experience to know when to buy and when to sell gold, it is sufficient for them that gold is the safe haven.
Gold is considered a safe haven that can be invested in, and one of the benefits of investing money in gold is that it works to preserve money from inflation factors and high prices for other commodities, such as oil, the dollar, and others, which fall into other investment methods, and it is considered the most stable investment. Even if there is a decline in its price during periods of the year, its price will continue to increase in the long run. Therefore, investment in gold is considered a safe haven for the owners of capital and the rich to preserve their wealth and the value of their money, and protect it from inflation and other financial market fluctuations.
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